EUR/AUD: Trade ideas for July 31
The EURAUD is playing the next resistance level of 1.4381, which is located 50.0 Fibo level. This pair is likely to extend the 61.8 Fibo retracement level up, but the pair is more likely to make a pullback at current levels to continue in the overall bearish trend. If EURAUD manages to make a pullback, it's expected to fall to the support level of 1.4202.
On the other hand, the 200 EMA is near to the current price of the EURAUD, so this pair could rise to that level, which is close to the 61.8 Fibo level (1.4423). If EURAUD manages to make a breakout at that level, it would be expected to go up to resistance level of 1.4483. The CCI indicator is showing a bullish divergence.
Trading recommendations: Place sell orders when the EURAUD does a pullback at the resistance level of 1.4318, with take profit at the support level of 1.4202.